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Series B funding round

May 27, 2024 - x.ai
xAI, an advanced AI systems development company, has successfully raised $6 billion in a Series B funding round. Key investors include Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal, and Kingdom Holding. The funds will be used to take xAI’s first products to market, build advanced infrastructure, and accelerate the research and development of future technologies.

Over the past year, xAI has made significant progress, including the release of Grok-1 and its improved versions, Grok-1.5 and Grok-1.5V. The company is set to continue its rapid progress with multiple technology updates and product announcements in the pipeline. xAI is currently hiring for numerous roles and invites interested individuals to apply.

Key takeaways:

  • xAI has successfully raised $6 billion in a Series B funding round with key investors including Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding.
  • xAI has made significant progress in the past year, with the release of Grok-1 and its improved versions, Grok-1.5 and Grok-1.5V, which have long context capability and image understanding respectively.
  • The funds from the round will be used to take xAI’s first products to market, build advanced infrastructure, and accelerate the research and development of future technologies.
  • xAI is hiring for numerous roles and is looking for talented individuals ready to join a small team focused on making a meaningful impact on the future of humanity.
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